BiggerPockets

You don't lean to ride a bike by reading a book or going to a seminar. While reading is a great way to learn, it is the experience of actually doing that matters most.

:cool:

I feel I have decent success reading books. I have the ability to picture myself doing as the book describes. My only issue has been that once you go hands on you learn a lot more than a book ever touches on.

I certainly believe that different people absorb differently, some may learn from watching others from reading a boring text book. I think the best method that works is a little of both visual and mental stimulation.

Then once you become hands on it all makes more sense and it gives you the ability to quickly adapt simply because you're physically doing what you saw/read.

I do just fine reading books/study material to get me started but being hands on is where I absorb and perfect

i'm hands on also. reading to me isn't the same as every situation is different and things are always changing.

Well there isn't nothing wrong with education sometimes you need to learn what needs to be done so you can get the legits of what is needed to succeed then once you acquired the knowledge you seek apply it.

However you learn, there is absolutely not excuse for learning every lesson the hard way - through the school of hard knocks. Whether you learn the business through books or by making friends with the SUCCESSful investors are your local REIA or by reading the forums right here on BiggerPockets, the key is to learn the basics of the business before you put your money at risk. I also would not waste my money on paid gurus, mentors, bootcamps, or seminars. Many (most) of these people don't know the business or they would actually be making their money in the business instead of trying to fleece newbies with the promise of a secret that doesn't exist.

Mike

that's a hard question!

Will,

I guess the answer to your question is that it would depend on what the "guru" charged and what the guru knew. If it was $20,000 (or more) that some newbies lose to the gurus and the newbie had even a little common sense, then it might be cheaper to 'just do it'. On the other hand, if the guru training was $500 and you found a "guru" that actually knew something about the business (rare), then the guru might be the way to go.

FORTUNATELY, these are not the only choices!!! REIAs do exist and are filled with real investors who will be happy to help you for free! BiggerPockets does exist and you can learn 100 times what some "guru" will teach you here ABSOLUTELY FREE!

So, if I had to answer your question and there was no Answer C - I would choose D - none of the above. A choice between a "guru" and "just do it" is no choice at all!

Mike

So far, it looks like the winning vote is the hands on expereince is "more" beneficial than the book learning, although educating yourself through books, forums and courses is a good start.

As expected, Mike found a way to squeeze in not only a choice C, but a choice D which was not available in the hypothetical, but I appreciate your opinion and insight and I agree. Thank God we don't only have choice A or B.

Going back to that scenario, if the guru program was something worth while and the cost was less than $5,000, could I assume that would be the better choice than flying by the seat of your pants? I would say that the mistakes you would probably make going on your own without any mentor and help by your side would result in losses in excess of $5,000. Would Mike and others agree?

Well Blacke, it was not a "rule" only a hypothetical to get people's opinions on the matter.

Either way, I agree with you that learning hands on really is the best way to learn, but having a coach to ask questions to or guide you through is also vital to your success.

I think your offer to get taught and give the teacher the full profits from the first deal is great, however, many have "offered" that very same thing to me and in the past I took them up on it. Do you know how many deals I got to cash because of it? NONE, because most people do not follow through or show the real dedication that is necessary to get a deal, let alone complete one.

Well of course you would inform them to get educated first and read books, participate on the BP forums, and do as much research on the internet for free as they could. From there, they have a foundation to build on. Then the next step is to DO, but from the consensus here, the DO part shoudl be done with someone experienced who can help avoid them making costly mistakes, even if that comes at a reasonable cost rather than DOING on your own and getting the experience the hard way.